Fujiyama Power Systems Limited · NSE:UTLSOLAR
Fujiyama Power Systems — Q2 FY2027 Earnings Presentation
27 slides from Fujiyama Power Systems's earnings presentation, Nov 9, 2026
Slide 1: Submission to stock exchanges: Analysts/Investors Presentation
SUTL SOLAR November 09, 2026 The Manager The Manager Listing Department Listing Department National Stock Exchange of India Limited BSE Limited Exchange Plaza, C-1, Block G Phiroze Jeejeebhoy Towers Bandra Kurla Complex Dalal Street, Fort Bandra (E), Mumbai 400 051 Mumbai 400 001 Maharashtra, India
Slide 2: Fujiyama Solar Q2 FY2027
FU. YAMA SOLA 0A AE A (OOO 00 0 A no LO A A a COA A A Gah ea ea a Q2 FY2027 (NSE: UTLSOLAR; BSE: 544613) aaa ma aeciiele
Slide 3: Powering India with an Integrated Energy Future
Powering India with an Integrated Energy Future © UTL SOLAR FUAIYAMG SOL fii? Customers Benefit From Uninterrupted Electricity Supply and Return On Investment Residential Rooftop Solutions (B2C) Tastee as Bye} AKsl a (Sts Solar Panel DIKda lb eles | States and UTs | Inverters/ PCU Lithium-ion / Tubu
Slide 4: Backward Integration to Address Domestic Content Requirement Driven Demand
Backward Integration to Address Domestic Content Requirement “DCR” Driven Demand ©UTL SOLAR FUAV\Y SOL AMG fii? Expanding into DCR-Compliant Solar Cell Manufacturing to Capture Growing On-grid Rooftop Solar Demand Under PM Surya Ghar Muft Bijli Yojana (“PMSGMBY”) PM Surya Ghar Muft Bijli Yojana cont
Slide 5: Management Commentary
Management Commentary <SUTL SOLAR FUSVYEMA Commenting on the performance Mr. Pawan Kumar Garg, Chairman and Joint Managing Director, said: SOL flit “The second quarter of FY27 marked further progress in Fujiyama’s manufacturing expansion and backward integration initiatives. The Company made progres
Slide 6: Q2 and H1 FY2027 Performance Highlights
Q2 and H1 FY2027 Performance Highlights = UTL SOLAR ) FUSIYAMA Rs. Million SOLFR Revenue from Operations EBITDA and Margin (%) ron 130.1% }----- |} 127.6% fo pon--4 116.4% }----- 1g I ed 128.7% |-a I I | I 26,525 I I I 4,777 I I I I I I I 5,679 I 1,030 I I I I 18.1% 18.9% 17.1% I 17.9% Q2FY26 Q1FY27
Slide 7: H1 FY2027 Capital Structure and Working Capital
H1 FY2027 Capital Structure and Working Capital UTL SOLAR ) Mia eh FUAVYGMG SOL fii? Ey Mar-25 Mar-26 Net Working Capital Days Long Term Debt 632 885 1,361 1,902 Short Term Debt 1,370 2,577 3,254 6,614 Total Debt 2,002 3,462 4,615 8,516 19 18 16 15 Receivables Days Less: Cash & Cash Equivalent 42 82
Slide 8: Engineering Platform
Engineering Platform UTL SOLAR FUAVYGMG SOL fii? Manufacturing Facilities in Close Proximity to Attractive End Customer Markets Dadri Facility Parwanoo Facility Solar PCU and UPS Solar Panels Solar Cells - Mono PERC Capacity: 400 MW Capacity: 1,200 MW Capacity: 1,000 MW Himachal Pradesh Uttar Prades
Slide 9: Backward Integration: Solar Inverter
Backward Integration: Solar Inverter <& UTL SOLAR FUAIYAMG SOL fii? rn The Company has’ undertaken backward integration in inverter manufacturing by developing in-house capabilities across key components such as sheet metal cabinet, heat sink fabrication, transformers and inductors, PCB mounting inc
Slide 10: Backward Integration: Lithium-ion Battery
Backward Integration: Lithium-ion Battery GUTL SOLAR ) ill re srs sc tay, FUAIYAMG SOL fii? The Company has backward integrated its Lithium-ion Battery operations by manufacturing key components in-house, like BMS (Battery Management System) cards including Electronics Manufacturing Services (EMS),
Slide 11: Strategic Expansion Plans
Strategic Expansion Plans UTL SOLAR FUAVYGMG SOLGR ———vvre \ Hathras } Future Capacity n a fo fe) Pa » 1S] oS [eet ra J) ES [e) a @UTLSOLAR 8 rf TS a a . Bx i ecccccccccccc wn aie ra ey : ; 1 E ithi : | ; : Lithium-ion Batteries : 545 MWh | ee ee sees oreteri Tubular Batteries 14,545 MWh! co5 Lithiu
Slide 12: Key Investment Highlights
Key Investment Highlights GUTL SOLAR FUAIYAMG SOL fii? Integrated Solar Energy Solutions Operates an integrated business model across the solar value chain with a focus on rapidly Platform changing customer needs Comprehensive Residential Solar Offers end-to-end solar solutions across on-grid, hybri
Slide 13: Consumer 'One-stop Shop' For SPGS
Consumer ‘One-stop Shop’ For SPGS &UTL SOLAR FUAVYGMG SOLAR Solar Power Generation Systems (SPGS) High Frequency Based Hybrid Solar Panels Batteries (Lithium & Tubular) 2 4 ene u Solar Chargers SOLAR PANEL ; UTL Li lon Batteries Tubular Battery High Frequency Based Inverter PWM Solar SMU For Home, E
Slide 14: Solar Power Industry Dynamics
Solar Power Industry Dynamics q UTL SOLAR ‘ i) AMA FUSIY SOL fii? India - rapidly advancing towards 500+ GW solar capacity Solar Energy Market Size — (GW)") aoe 7 GR ae 500 + Cee te CAGR — 26.4% , y 300 106 —- 29 36 A1 34 67 82 2019 2020 2021 2022 2023 2024 2025 2026 2030P 2035P CV DY=aV(=1(e) olanl
Slide 15: Power Inverter and Battery Storage Industry Dynamics
Power Inverter and Battery Storage Industry Dynamics UTL SOLAR FUAVYGMG SOL fii? t | Import dependence: India still imports a large share of its solar inverters, ' lithium batteries and BMS, mainly from China UN Elem esi acelalials4 eccee eee ee eee ee ee ee ee ee ee ee ee ee ee ee ee ee ee ee ee ee
Slide 16: Strong Brand Recall and Reputation in the Solar Rooftop Industry
Strong Brand Recall and Reputation in the Solar Rooftop Industry SUTL SOLAR FUSIY GME Won Various Awards, Accreditations and Recognitions Brand Ambassador for Fujiyama Solar reas { Renewable Energy Excellence Award - Solar ‘U.P. Invest’ award — = Battery Manufacturing Uttar Pradesh Government (2019)
Slide 17: Proven Track Record of Being an Early Adopter of Innovative Technology
Proven Track Record of Being an Early Adopter of Innovative Technology &3UTL SOLAR FUSIYAMA SOLGR 2000 2004 2021 | 2026 | _ FirstIndianCoTo — _ LlaunchedCombo ~ Launched Hybrid Began | _ Launch SMT Inverter | UPS (Combo of UPS | Inverter basedon — | manufacturing | With Single Card and Inverters) rM
Slide 18: From Engagement to Conversion: Driving Sales through Marketing and AI
From Engagement to Conversion: Driving Sales through Marketing and Al ~ UTL SOLAR FUAIYAMG SOL fii? Smart Reference System - ‘UTL Credits’ End-to-End Lead Management On-Route Dealer Visits SERVICE COMPLAINT We gather Leads from multiple Channels Al-powered WhatsApp Telemarketing team messages nurtur
Slide 19: On Going Expansion of Pan India Distribution Network
On Going Expansion of Pan India Distribution Network SUTL SOLAR FUAJIYAMA SOL fii? Expanding Presence Across States With Strong Rooftop Solar Potential 637 GW of Rooftop Solar Potential H1 FY27 Market Position I I I I I I I I 39 I I I I I I 29 I I I I 23 | I I 16 171 1 I | 1 0 4 10! 1 !I i I) Covere
Slide 20: Emerging Growth Opportunities
Emerging Growth Opportunities UTL SOLAR FUAIYAMG SOL fii? Evaluating New Opportunities That Can Expand Fujiyama’s Presence Across The Clean Energy Value Chain 4) PM Surya Ghar 2.0 2 ) BESS For C&I Customers © Battery Cell Manufacturing e > Proposed measures include support > As businesses seek relia
Slide 21: Board of Directors
Board of Directors = UTL SOLAR aD FUAIYAMG SOL fii? Promoters and Directors Pawan Kumar Garg Yogesh Dua Sunil Kumar Chairman and Joint Managing Chief Executive Officer and Non-Executive Director Director Joint Managing Director Exp. in Developing Software Solutions: 24+ years Exp. in Industry: 29+ y
Slide 22: CSR Initiatives
CSR Initiatives SOLAR FUAVYAMA SOL fii? Trainee Skill Development Under NAPS CSR expenditure for the period was supported apprenticeship training under National Apprenticeship Promotion Scheme (NAPS), supporting practical skill-building for young trainees under the Apprentices Act, 1961. This reflec
Slide 23: Annual Financial Performance (1)
Annual Financial Performance (1) <¢UTL SOLAR FUSIY AMA SOL fi Rs. Million Revenue from Operations EBITDA and Margin (%) I i 26,525 I oR- 413.8% 4,903 1 4,777 I CA 2,485 ; I 6641 9,247 , I 986 I 516 II 7.8% 10.7% 16.1% 18.5% ! FY23 FY24 FY25 FY2600 H1 FY27 FY23 FY24 FY25 FY26 "H FY27 PAT and Margins
Slide 24: Annual Financial Performance (2)
Annual Financial Performance (2) <¢UTL SOLAR FUSIYAMA SOLGR ROCE (%) ROE (%) \ I 41.0% 1 39.4% I 1 I I 26.6% 29.3% 1 1 I 24.0% 23.9% I 16.8% 18.9% i 20.3% ! 12.6% 1 I I I I I I I 1 I FY23 FY24 FY25 FY26 1 H1FY27 FY23 FY24 FY25 FY26 - HL FY27"7 Net Debt/Equity I 1.1 0.8 0.9 1 I 0.6 I 0.3 I I I FY23 F
Slide 25: Q2 and H1 FY2027 Financial Performance Summary
Q2 and H1 FY2027 Financial Performance Summary GUTL SOLAR cul! YAMG@ SOL fii? - s n -w A +c 3 - s a elIPy| a plipls) Growth(%) a eLIPy Growth(%) FY2027 FY2026 = Revenue from Operations 13,068 5,679 130.1% 13,457 (2.9%) 26,525 11,653 127.6% Other Income 21 19 23 44 23 Total Income 13,089 5,698 13,480
Slide 26: Statement of Assets and Liabilities
Statement of Assets and Liabilities © UTL SOLAR FUSVYAMGA SOL FIC As on As on As on As on 30 Sep, 2026 | 31 Mar, 2026 30 Sep, 2026 | 31 Mar, 2026 Equity and liabilities Assets Equity Share Capital 307 306 Non-Current Assets Other Equity 14,350 12,428 Property, Plant and Equipment 7,062 5,352 Total E
Slide 27: Thank You
UTL SOLAR FUAVYGMG SOL fii? Thank You This presentation, provided by Fujiyama Power Systems Ltd., is intended for informational purposes only and is not an offer, invitation, Fujiyama Power Systems Ltd. or inducement to sell or issue securities. It is not intended to be a prospectus under any jurisd
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